Product returns pose a major challenge for retailers.In 2022, U.S. consumers returned 16.5% of merchandise purchases, costing retailers an estimated $816 billion in lost revenue.Typical strategies to reduce revenue lost to product returns include reducing the likelihood of returns by providing more information about products (e.g., reviews and FAQs) and increasing the financial and transaction costs to consumers who do return products (e.g., shipping costs and limited return windows).
#information #opportunity #immediately #effectively #participants #differently #permanently #experiments #credit-card
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